Twentieth-century welfare state capitalism was historically unique in that national income was split between wages and profits, labour and capital.
Think how modern economics presents work. Only labour that contributes to growth counts.
We are in an era of chronic insecurity and growing inequalities. In that context, we need to have new mechanisms for income distribution which give people a sense of security.
I don't see basic income as a panacea, but we must have a new income distribution system. The old one has broken down irretrievably.
Millions of people in many so-called democratic countries have lost the right to vote, or never obtain it. And millions clearly feel that the political mainstream is not articulating a vocabulary or policies oriented to their needs and aspirations.
A rich and diverse commons lowers the cost of living for those who use it. And throughout history, it has been those on low incomes who gain most from the commons.
Most existing national capital funds have been built up from royalties from oil and other minerals. They need not be limited that way. Most are anything but democratic. That could be changed.
Using political power, the elite can induce local authorities to facilitate enclosure and privatisation of land, water, and other hitherto public amenities. And they can pressurise public administrations to cut taxes, reducing financial resources for maintaining the remaining commons.
A primary justification for a basic income is social justice.
In the interests of competitiveness in a globalizing world economy, governments of all complexions introduced labour-market reforms that promoted flexibility but accentuated the precariat's insecurities.
The precariat is the first class in history to be losing acquired rights - cultural, civil, social, economic, and political.
The Latin root of 'precariousness' is 'to obtain by prayer.' The precariat must ask for favours, for charity, to show obsequiousness, to plead with figures of authority. It is degrading and stigmatizing.
Nobody should be allowed to fund political parties unless they pay at least 30% tax on all income above the median wage. If that rule applied, the Tory party would be bankrupted overnight.
Every time a government minister or spokesman lauds Magna Carta, let us boo or hiss. Shame them. And let us celebrate what it really means to our history: the ability of an emerging class to make demands against the state for new liberties and rights.
The World Bank and others have been converted to conditional cash transfers (CCT). These provide poor people with cash on condition they send their children to school and for medical treatment.
Growth in village economies is often ignored. It should not be.
The primary value of a basic income would be its emancipatory effect.
Public social services, infrastructural policies, and so on are vital. But a basic income should be part of a package of reforms.
Capital is taxed much less than labour; subsidies going to capital, the rich, and middle-income earners greatly exceed the benefits going to the precariat and underclass.
The Magna Carta was the first class-based charter, enforced on the monarchy by the rising class.
